Olam Group’s wholly-owned subsidiary Olam Agri has secured a three-year US$1.85 billion ($2.39 billion) financing facility which has two tranches, a US$1.6 million conventional tranche and a US$250 million Islamic tranche.
Proceeds from the facilities will be applied towards general corporate purposes. For the conventional tranche, the senior mandated lead arrangers are Australia and New Zealand Banking Group Limited, Banco Bilbao Vizcaya Argentaria, BNP Paribas, ING Bank, Intesa Sanpaolo Bank, and Natixis. First Abu Dhabi Bank is mandated lead arranger.
For the Islamic tranche, the senior mandated lead arranger is Dubai Islamic Bank.
Shares in Olam closed 1 cent higher or 1.124% up at 90 cents on May 30.
